Archives for July 2008

Why hire a Realtor?

1. Homes are bought by comparison. I have a large inventory at my disposal through MLS while you have an inventory of one.

2. I am very familiar with competitive houses so I can help you position your home well.

3. It is hard negotiating for yourself. I have lots of experience in writing contracts and can negotiate aggressively on your behalf.

4. Buyers are not always forthright about their financial situation. I insist on pre-qualifying before I even bring you an offer.

5. My lender contacts and mortgage experience help buyers get the financing they need.

6. Most buyers don’t want to tell the seller why they don’t make an offer. I can probe the buyer or his agent for that information.

7. Any follow up you do with a buyer can be seen as desperation. I follow up as part of my job so that you are not perceived in a compromising light.

8. I can showcase your improvements better so that you don’t appear like you are “selling.”

9. Most sellers who spend their time as a For Sale By Owner end up by listing in the end. A recent NAR survey found that only 11% of sellers nationally ended up selling by owner. Why spend your time and money if in the end you will hire a REALTOR?

10. Unqualified buyers can tie up your home. I make sure that doesn’t happen.

11. Personality conflicts with a buyer can get in the way. I come between the buyer and the seller so that personalities don’t enter in.

Should you get Flood Insurance?

I was reading an article in a real estate magazine “Texas Realtor” regarding flood insurance and wanted to touch briefly on it with you all.  Flood Insurance like earthquake insurance is considered ‘single peril’ insurance and is sold seperately by the Insurance company.  For most people this is an extra expense that they feel is unnecessary until the unforeseen happens and their home floods.

 Most of the time you will find that a home will be located in a 100 year flood zone, but what does that mean? Well, it means that there is a 1% chance that a major flood will occur in any given year, not once in a 100 years as the name implies.

Can a home that has flooded before be covered under flood insurance.. the answer depends on if the home is in an area that participates in the National Flood Insurance Program.   Areas that flooded two consecutive years are considered to be in a flood plain also know as Special Flood Hazard Area (SFHA).  These homes are at a high risk for a major flood event – a 26%+ chance over the life of a 30 year mortgage.  If a home lies within an SFHA the lender will require flood insurance.

Should you get Flood insurance? Statistics show that 25% of the homes that flood come from areas considered to be low to moderate risk. FEMA works hard to redraw the imaginery lines for flood zones.  So it is up to you as a homeowner to decide whether or not to purchase flood insurance just keep in mind that it doesn’t take a major Hurricane like Katrina to flood an area. A slow-moving system can do just as much damage.

If you still are unsure please visit www.floodSmart.gov (http://www NULL.floodSmart NULL.gov) for more information on flood insurance, risk of flood and tips for homeowners.

Talk to you again soon,

Patti

p.s. “People will forget what you said. People will forget what you did.”
“But people will never forget how you made them feel.”

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